Sibir Energy Share Discussion Threads

[krishna3434] 17/6/2009 12:39

Hi ,New to the BB.Have few SBE SHARES.Is there any REASON WHY SOME BROKERS HAVE NOT PAID OUT THE MONEY AND SOME HAVE?.Not received mine from NATWEST

[pablo1969] 17/6/2009 07:57

Sent certificate to Capita with completed form,money arrived few days later.
Now completely out. Thanks for the last couple of years chat and good luck

[josels] 16/6/2009 22:15

TDwaterhouse no payment received yet.

[camiladasi] 16/6/2009 15:06

Received full payment from Hoodless Brennan on 8th June - good service.

camlad

[johnabuchanan] 16/6/2009 14:05

I have nothing from Selftrade yet, apart from a 'Free delivery' Receiot dated 11/06/09 for £0.00

Sent my certificate to capita for another lot a few days ago, nothing back yet

[a0002577] 15/6/2009 14:19

I've got mine - sent certificate to Capita with completed form - money arrived four days later.

[a0002577] 15/6/2009 14:19

I've got mine - sent certificate to Capita with completed form - money arrived four days later.

[steveofsw19] 15/6/2009 11:03

Any selftraders know when we will get our money?


Takk.


S.

[willessa] 12/6/2009 13:18

Doesn't sound right. IG are accepting the offer of £5 and will close out my spreadbet on receipt of funds.

I still wonder whether they haven't hedged your bet (bought the underlying shares) and so they will lose if they pay you out as they took a straight bet from you.

I just cannot believe they can get away with that. Would definitely go to FOS or take it further...

[orangepeel] 12/6/2009 12:50

Sorry I have just read your post again, You have already answered that question :)

[orangepeel] 12/6/2009 12:45

Bohemia, that 75% to 90% making the offer manditory, is that the percentage of minority shareholders needs to be bought out or a percentage of sibir as a whole?

[orangepeel] 12/6/2009 12:40

Thanks for your help Bohemia,the problem I have is a spread bet. CMC say they will only pay out if the offer becomes manditory, failing that they will wait for the stock to commence trading. I don't hold any hope that they will accept any offer on behalf of their spread bet clients. My next question is what price do I get closed out at if the stock de lists. Will it be last traded price 174p (approx)or 0p. The latter being a right kick in the teeth.

Regards to all

O

[gatdecor] 12/6/2009 09:14

so except or not to except that is the question?

[bohemia] 12/6/2009 08:16

orangepeel,

Offers only become mandatory when the offeror gets to a certain high threshold (usually 75% or 90%), and then uses the Takover Rules or the company's rules to force the remaining shareholders to sell out.

In this case Gazprom won't get to that threshold, so the offer won't be mandatory. Even if they get there in the long-run by buying out the big shareholders, it's a right to make the offer manadatory, not a duty. Just depends if Gazprom want to use the rules to hoover up the last stragglers.

Gazprom will probably announce how many shares they have on the 17th. They may well extend the offer, but you can't depend on it. If you want to accept the offer, and I think you should (DYOR!), do it now!

[orangepeel] 12/6/2009 07:26

Could someone tell me what has to happen for the offer to become manditory? What happens on the 17th June? I know offer acceptance forms need to be in but do we expect some result on that day?

Regards to all

O

[dgunn222] 11/6/2009 18:38

I bought the cfd shares with level2 direct access, so they definatly had the shares.
I wonder if someone else takes out a short position afterwards, then my position may be sold. It is then easier to get the money from the person who is long, especially as the margin was increased to 100% after suspension.
The short person will need to pay double the original stake and may not have that in there account.

I have sent a complaint to the financial ombudsman, but not expecting much.

Thanks for suggestion though.

[fsu gold investor] 11/6/2009 18:26

Good news for us Yanks that own Sibir Energy shares.

Schwab brokerage says that an avenue is being set up for U.S. shareholders to tender their shares to Gazpromneft.

To which I say, "YESSSSSS!"

[banj] 11/6/2009 09:28

I think you should complain to the Financial Ombudsman Service. That's ridiculous. If they covered themselves with a purchase in the open market (which they should have done) they have stock to sell to make good your position. Good luck.

[dgunn222] 09/6/2009 12:32

If I could find other Etrade customers to complain I may have more luck.
At the moment they are saying it is not fair to accept the offer for me only.
I would of thought that it is not fair to accept the offer for all holders of Siber long cfd's.

I have sent some of the details from the web site, and this is the final response.

"As confirmed in previous correspondence we will only take up the terms
of the offer for CFD's when the offer becomes mandatory as stated in our
customer agreement.

I have raised this as a formal complaint in our systems, please see the
contact details for the financial ombudsman, I am also sending you a
booklet in the post about the financial ombudsman service.

Please note that, under terms of our Complaints Procedure, this is our
final response. If you are dissatisfied with it, you may refer your
complaint to the Financial Ombudsman Service. You need to do this
within six months from the date of this email. For more information
please read the enclosed guide 'Your Complaint and the Ombudsman'."


I do not agree with there interpretation of the terms and conditions below.

10. TAKEOVERS
10.1 When a takeover offer is made in respect of
a single stock security we will close out any
open CFD positions that you hold in that
security when the offer becomes mandatory
and follow the terms of that offer.
10.2 It is your responsibility to be aware of the
respective dates and timetable for the
relevant takeover offer.
11. SUSPENSION
11.1 In the event that a security is suspended
from trading on the underlying Market that
it is listed on we will not be able to execute
any orders in the CFD for that security until
the underlying security resumes trading on
the relevant underlying Market.
11.2 Where a security is permanently suspended
from trading on the underlying Market that
it is listed any open positions in that
security will be closed out at a price of
zero

[willessa] 09/6/2009 09:58

I too, were told by IG Corporate actions yesterday that they were accepting the offer on our behalf.

He said that whilst funds are usually received within 10 working days, he was commiting himself on this one.

[dougie471] 09/6/2009 09:52

seems etrade are being very awkward. My broker spoke to IG corporate action divisions and sent them the details from Sibirs web site. They initially said they would be looking into it on behlaf of all their clients. My broker received an email yesterday stating that ig had accepted the offer and expected funds to be with them by the 27th. I would definately press your broker on this

[dgunn222] 09/6/2009 06:38

Maybee I will get a respone from Etrade customers when there long position is closed with a payment of zero.
The broker has decided to not accept the offer, because he owns the share and I only own the derivative. I take all the risk, but he decides to accept the offer or not.
The broker at etrade says that the comment below is telling him to only accept a mandatory offer. I disagree with this.


"10. TAKEOVERS
10.1 When a takeover offer is made in respect of
a single stock security we will close out any
open CFD positions that you hold in that
security when the offer becomes mandatory
and follow the terms of that offer.
10.2 It is your responsibility to be aware of the
respective dates and timetable for the
relevant takeover offer."

If they take all the decisions why are you responsible for watching the timetable for takeovers.

[dougie471] 08/6/2009 21:18

i heard from ig today that funds will be available on cfd in my account on 27/6/09

I cant see Sibir being relisted. Bird in the hand.....

[gatdecor] 08/6/2009 15:46

From RNS
"Any decision to sell Sibir
Shares to JPMC would be entirely that of the Sibir Shareholder"

does any one else think this wording seems strange? almost like they are admitting they are getting them too cheap. Also if Gazprom are not having to bid for the whole company once 30% is reached surely the company will relist and make £5.00 look very cheap?